Do You Know What Women Want?

By Jennifer Libin, Sales Director, Automotive Profit Builders

Our economy is driven, influenced and essentially run by women. It’s a fact. We live in a “Sheconomy” Women plan and coordinate the finances in the majority of American households. Women are the decision-makers. They manage household budgets and control the “checkbook.”

Let’s look at some facts. In 2016, women purchased:

  • 93 % of a family’s food and pharmaceuticals
  • 92% of all vacations
  • 91% of all new homes
  • 85% of all consumer products
  • 80% of all healthcare services
  • 66% of all technology
  • 65% of new vehicles
  • 65% of the service work done at dealerships

In addition:

  • 89% bank accounts are managed by women
  • 80% of all vehicle purchases are influenced by women

Without a doubt, women make financial decisions on everything from vehicles to real estate and healthcare.  So why then do so many salespeople treat women like they can’t or don’t make buying decisions? Why are women still asked, “Do you need to discuss this with your husband?” or “Why don’t you bring your dad back with you so we can finalize the sale?”

Today, there are nearly 174 million women in the U.S. and Canada. Men are in the minority, in fact there only are about 167 million men in these countries. When will salespeople realize that women represent the biggest sales opportunity?

Why do salespeople treat women differently and make buying so challenging? Do salespeople really believe that they can short change women? They are sorely mistaken if they do. When a woman is dissatisfied, angered, or disrespected, regardless if she is with a man or not, the chances of making a sale drop to 0%.

Isn’t it time that salespeople learn what women want so they can start to capitalize on this huge sales opportunity?

So, what do women want?

  • They want information so they can make apples-to-apples comparisons and informed decisions.
  • They want to be treated with courtesy and to have their time respected when they go to a business.
  • They want to be heard. They’ve done their homework and are looking for specific information. They want to have the opportunity to see, touch and experience before buying, and they want the salesperson to be eager to talk about the features that address their specific needs.
  • They want salespeople to take a sincere interest, and to work with honest salespeople with integrity.
  • They want salespeople to tell them things them don’t already know, and to help them select product that meets their needs.
  • They want to know what’s in their best interest in terms of and other considerations.
  • Women want honest, direct answers.
  • They want the process to be simple and straightforward.

Isn’t this what anyone would want?

It is time that salespeople recognize that women should be given the same respect, information and treatment as any other customer. Don’t shortcut them. Only when this happens will salespeople be able to capitalize on the enormous purchasing power held and controlled by women.

About the Author

Jennifer Libin, Sales Director, has worked for APB since 2008. Ms. Libin has a keen understanding of the automotive industry and excels as a leader who builds teamwork and cultivates relationships. In addition to APB, Ms. Libin works as a gymnastics coach and is head varsity gymnastics coach for three high schools. She earned her degree from Assumption College in Worcestor, Mass. She can be reached at jlibin@apb.cc or 508-626-9200.


Comments

  1. Steph Savill on

    Very interesting Jennifer – I’m sure we’re on the same page in the UK. I see this topic from the point of view of female customers but I don’t believe that women want to be treated like men as customers in the automotive industry. My experience is that most of us’d rather go one better ie deal with businesses that demonstrate measurably higher quality standards (it’s just we don’t know what to look out for here) including promising not to overcharge or patronise us. Of course this should be common ground for all motorists but women see this industry as having a masculine face, run mainly by and for men, even if we are the gender spenders. The business opportunity is to put the spotlight on the measurably female friendly companies and market them to women as being at a higher standard. Call it a female standard if you like, but you’d delight many men in the process even if they’d never say so! Otherwise this industry is being held back by the bad businesses in it – you’ll never convince cowboys that survive without qualifications, training or ethics to up their game until there’s a compelling reason to – either to compete or have to leave the industry otherwise.

    Reply

Leave a Reply

Your email address will not be published. Required fields are marked *